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Major Financial Institutions to Provide Financing for KKR’s Acquisition of Arnott’s Biscuits

August 26, 2019

New York – Paul Hastings LLP, a leading global law firm, announced today that the firm represented the lead arrangers of a syndicate of first and second lien lenders with respect to the acquisition financing to be provided in connection with KKR’s definitive agreement to acquire Campbell Soup’s international operations, including Arnott’s biscuits, for $2.2 billion.

Leveraged Finance partners Michael Baker, John Cobb, Shekhar Kumar and Andres Mena led the Paul Hastings team, along with of counsels Seth Chandler and Danny Choi and associates Jordan Hook, Homin Lee, Soufi Mirfakhraei, Daniel Ovadia, Obediah Samuel, Maciej Zielnik and Mitchell Zuckerman.

The Paul Hastings Leveraged Finance team consists of more than 100 lawyers focusing on key markets across Asia, Europe, Latin America, and the U.S. Our lawyers advise many of the largest and most sophisticated financial institutions around the world. Paul Hastings is among a small number of firms that can be relied upon to handle complex deals involving numerous parties. The Leveraged Finance team recently advised on several high-profile financing deals, including the $3 billion financing announced for Bain’s acquisition of Kantar from WPP; the $1.3B financing of the acquisition of MYOB Group by KKR; £2.5 billion financing announced for Advent’s acquisition of Cobham; Starwood Energy’s $1.23 billion acquisition of combined-cycle gas turbine power plants from Dominion Energy; the $1.495B financing for Victory Capital Holdings, Inc.’s acquisition of USAA Shareholder Account Services, USAA Asset Management Company and Harvest Volatility Management; a $900 million multi-currency asset-based revolving credit facility provided to JBS USA Food Company; and exchange offers and consent solicitations for $5.5 billion of high yield notes issued by Altice US Finance I Corporation and Cequel in connection with Altice USA, Inc.’s combination of its Suddenlink and Optimum businesses under a single credit silo.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.